Platinum Group Metal
Platinum Group Metal (PLG) is an exploration and development stage company conducting work on mineral properties it has staked or acquired by way of option agreements in Ontario, Canada and the Republic of South Africa. This stock is trading up 5.7% to $1.46 in recent trading.
Today's Range: $1.37-$1.48
52-Week Range: $0.75-$1.60Volume: 1.02 million Three-Month Average Volume: 552,477 From a technical perspective, PLG is bouncing higher here right off some near-term support at $1.36 with heavy upside volume. This stock has been trading inside of a consolidation pattern for the last two months, with shares moving between $1.28 on the downside and $1.52 on the upside. This spike today is quickly pushing shares of PLG within range of triggering a near-term breakout trade above the upper-end of its recent consolidation chart pattern. That trade will hit if PLG manages to clear some near-term overhead resistance levels at $1.47 to $1.52 with high volume. Traders should now look for long-biased trades in PLG as long as it's trending above some key near-term support levels $1.36 or $1.28, and then once it sustains a move or close above those breakout levels with volume that hits near or above 552,477 shares. If that breakout hits soon, then PLG will set up to re-test or possibly take out its next major overhead resistance levels at $1.72 to $1.90. Any high-volume move above those levels will then put $2.20 to $2.40 into range for shares of PLG. To see more stocks that are making notable moves higher today, check out the Stocks Under $10 Moving Higher portfolio on Stockpickr. -- Written by Roberto Pedone in Winderemere, Fla.
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